NEWS

The draft of the new Housing Law of the Balearic Islands

17Feb

Derecho Inmobiliario y cuestiones Fiscales

Amongst the regulations of the draft of the New Housing Law of the Balearic Islands presented by the Govern, from Bufete Frau we wish to point out the intention of regulation for the real estate agents in the islands and the fight against the illegal real estate agents or those not registered or legalized. All the information concerning the rendering of real estate services is to be found on the pages 52 and 53 of the document. In this sense, the additional third Regulation indicates that:

“Concerning this Law, the agents who take place in the rendering of real estate services are the administrator of buildings and real estate agents. The administrator is the individual whoes main paid job is that of rendering adminstrative services and advise to the owners of properties and communities of property owners. Corporations and other legal entities can also be considered as administrator or buildings under the conditions and terms laid out in the legal legislation. An agent or real estate agency is the individual or legal entity whose main paid job, within the territory of the autonomous region of the Balearic Islands, renders the services of broker in real estate transactions, concerning operations of purchase/sale, option of purchase, rental, exchange or surrender of property, as well as the rights concerning the mentioned operations, including their formation. The requirements will be regulated to carry out the activity of real estate agent, as well as the obligations to be observed in the execution of his activity, in particular that of the necessity of signing a note of commission between the professional and the person receiving the service. An administrative registry will be formed in order to register the real estate agents or agency”.

If you wish to read the full document or need access to same, please click this link to the draft of the new Housing Law of the Balearic Islands. In our lawyers office in Baleares we are specialists in Real Estate Law, that of Construction and Planning for more than 20 years. We advise our clients in a wide range of court and legal proceedings concerning real estate and planning matters in Mallorca and Ibiza with professional offices in Mallorca, Ibiza and Turín.

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